Bitcoin Touches New Milestone |
|
It's December of 2021. The markets are sh*tting the bed. A new COVID variant has freaked everyone out again. Eggnog and Christmas gifts are more expensive than ever before... and making matters worse, Bitcoin is down ~27% in a little over a month!
Ah, let's cheer up...
It's December 2021. The markets are cooling off after an incredible 20-year bull. You're probably not sick. And you've just learned that Bitcoin hit yet another milestone, despite being up 100%-plus YTD.
As of Monday morning, 90% of all Bitcoin has been mined. The feat means 18.89 million BTC – of a maximum of 21 million – are now on the open market.
Reaching the milestone took nearly 12 years since the first BTC was mined on Jan. 9, 2009. And while the remaining supply is not expected to be mined until 2140, you find yourself longing a life-changing fixed asset with a quickly diminishing supply... all while inflation is eating your fiat at the highest rate in 39 years.
🍻Not a bad spot to be in.
|
|
Twitch Co-Founder To Launch A Gaming NFT Marketplace |
|
Justin Kan, co-founder of streaming platform Twitch, said Monday that he’s launching a marketplace focused entirely on gaming NFTs called Fractal.
The platform is being built around the ability for users users to shop for avatars and digital goods. And while it has been focusing on bulking up support for existing crypto games, Kan and the Fractal team are hoping to turn the platform into a sort of Kickstarter for blockchain games, allowing users to buy exclusive NFTs in pre-sales that help fund the creation of the games themselves.
While OpenSea has already seemed to win the lion’s share of NFT marketplace traffic, competing storefronts like Fractal are striving to find their niche.
Interestingly, the entire marketplace will be based on Solana with Kan stating, “I believe that Solana is the future of gaming.”
Although an exciting moment for crypto (especially Solana) as Kan has built some highly influential companies, gamers continue to rally against the idea of NFTs with pushback against Discord, Ubisoft, and now Fractal.
To be quite honest, we stand on both sides of the argument. Cool for crypto and NFT adoption – of course. But perhaps many of you are like us. Our love affair for Warzone, Halo 2, GTA, Smash Bros, and all the classic video game processors of the past, had much more to do with the gameplay itself – never the bundles, skins, flashy add-ons, and so forth.
|
|
It's Time To Rethink Your Media Diet |
|
The Daily Upside, founded by a team of investment bankers, journalists, and scholars, was created for the sole purpose of making investors smarter. The (completely free) daily newsletter is jam-packed with equal doses of charisma and insight:
Want to know if rising inflation will erode the cash in your bank account... Or why Tesla is ditching its strategy of placing showrooms in luxury malls?
Instead of regurgitating headlines, The Daily Upside goes a level deeper to instantly boost your business IQ and upgrade your investing know-how. Simply put, it’s a must-read.
Join over 195k readers and sign up for free.
|
|
Every time we sit down to write our weekly CoinSnacks recap, stumbling across 10-20 new funding announcements is pretty much inevitable. This year the pace of funding has been noticeably different. But how different are we talking about? Just take at Joel John's latest piece at Decentralised:
Crypto VC Funding: 2017: $1.3 billion 2018: $3.7 billion 2019: $2.7 billion 2020: $2.7 billion ...2021: $17 billion Key Takeaways: In 2021 there aren't necessarily more rounds (1,289 in 2018 vs. 1,278 so far in 2021), but the size of the rounds has roughly doubled ~75% of money deployed is concentrated in ~5% of deals this year, as nearly 50 companies raised over $100 million in 2021 (2018 had 8, 2019 had 5) Crypto native funds aren't necessarily determining the future of the crypto industry at the late stages. The power brokers are slowly becoming the old guards as well-established names focused on late-stage equity with the hopes of delivering an exit through IPOs are deploying capital. Good or bad is yet to be seen, but this is most likely why large crypto companies like OpenSea are going for IPO rather than crypto native options |
|
No Such Thing As Teaching... |
|
While the markets are quiet – without a lot of major news to go around this week – spend some time to reeducate yourself on some of 2021's biggest learning curves...
Because if there's one thing we've learned over the years, it's that just when you think you understand crypto, you don't. DEX Education: Uniswap, Optimistic Rollups, and DEX landscape Layer 2 Education: Goodbye Gas Fees: Hello Layer 2 Living DeFi Education: The Ultimate DeFi 101 Guide to Ethereum, Yield Farming, and More Web 3.0, NFT, & DAO Education: Chris Dixon and Naval Ravikant on The Tim Ferriss Show And if you are looking to prepare for the future, here are 5 crypto trends to watch for in 2022 from Coinlist and 10 more from Ryan Selkis.
|
|
Use Your IRA to Invest in Crypto & More |
|
With a Rocket Dollar IRA or Solo 401k, you can invest your retirement money in cryptocurrency, NFTs, tokens, real estate, private equity, crowdfunding, and more while taking advantage of tax benefits and incentives.
Ultra-wealthy investors like Peter Thiel have used IRAs as their personal venture capital fund for years. Now Rocket Dollar is empowering ordinary retirement investors to take advantage of the same world of possibilities and benefits.
Get $50 off your Rocket Dollar account w/ code: COINSNACKS
|
|
The World Is Moving Quickly On CBDCs |
|
The world is moving ahead with central bank digital currencies (CBDCs, or digital versions of existing currencies). The U.S., it increasingly appears, isn’t.
So far, 39 countries have advanced to development, pilot programs, or actual launches of CBDCs, while the U.S. is still in the research phase. For example, the largest economy in Africa, Nigeria, has launched a CBDC that’s now in use.
This neat interactive map by the Atlantic Council’s GeoEconomics Center, newly updated yesterday, shows where each country in the world stands in its development of a CBDC.
|
|
IRS Posts Finalized 1040 Form With Revised Crypto Question |
|
The 2020 version of the IRS's Form 1040 asked: "At any time during 2020, did you receive, sell, or otherwise acquire any financial interest in any virtual currency?"
This led to a lot of confusion among taxpayers as to whether buying or holding qualified as transacting in crypto. To combat this confusion, the IRS has updated the form for 2021. The revised question asks: "At any time during 2021, did you receive, sell, exchange, or otherwise dispose of any financial interest in any virtual currency".
Taxpayers will now answer "yes" if they: received crypto as payment; from an airdrop, mining, staking, or hard forks; exchanged crypto for crypto; or just regular old sold.
Taxpayers will now answer "no" if the only activity they engaged in was: holding, transferring coins between their own wallets, or purchasing crypto using fiat.
|
|
Other Content You Might Enjoy |
|
NIKE, Inc. Acquires RTFKT
Invest your Crypto Assets with Mudrex and stand a chance to win $500 Cashback **
An Explanation of DeFi Options Vaults (DOVs)
The curious case of the Bitcoin Lightning Network and the algorithmic trader
Zero Taxes, Golf and Beach Houses Create a Crypto Island Paradise
Visa launches crypto consulting services in push for mainstream adoption
WhatsApp launches cryptocurrency payments pilot in the US
Hearing a Lot About Community Points Around Here Recently? Here's their Complete History Dissected in One Long A** Post
Coinbase Launches High-Interest DeFi Yields to 70 Countries
InfiniteWorld, a Metaverse Infrastructure Platform for Brands, Announces Plans to Become a Publicly Traded Company via SPAC ** Sponsored |
|
|
|
